Litecoin LTC Long Term Low Set or just a Correction, Part 4
Updated
Shortly after i posted my LTC' analysis, where i was still a bit neutral, Bitcoin' started to show some bullish signs. Because of that LTC' was moving up as well and was quickly bumping against that red resistance on the right, which was the neckline of that inverse H&S i mentioned in the previous analysis. Target of that IH&S has been over reached even and now we are seeing rejection again from the longer term resistance (red zone on the right). Lower time frame shows a possible small double top as well, suggesting we could make a bigger correction now towards the 46/47.
When looking at the chart on the left, there is more than enough room to drop to the 45 even like the blue line is suggesting. Testing the support of the previous bull flag. If we see that happen and the market and LTC' turn up again, we could see that 50ish level break. I expect to see a big move happen when that does, but that is guessing for now. It has been a long time ago since a big Alt broke a big resistance like this one. So i am not sure how the market will react if that happens. Whatever happens, we should not drop below the 45ish again.
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Previous analysis:
When looking at the chart on the left, there is more than enough room to drop to the 45 even like the blue line is suggesting. Testing the support of the previous bull flag. If we see that happen and the market and LTC' turn up again, we could see that 50ish level break. I expect to see a big move happen when that does, but that is guessing for now. It has been a long time ago since a big Alt broke a big resistance like this one. So i am not sure how the market will react if that happens. Whatever happens, we should not drop below the 45ish again.
Please don't forget to like if you appreciate this :)
Previous analysis:
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New Litecoin analysis:
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